Quote:
Originally Posted by Cappy
Not entirely.
less than 100% substitution can be beneficial to the city based on multipliers. A sports team's multiplier is insignificant whereas spending money on other things in the city has a more substantial effect.
Substitution is a factor in the conclusion that arenas don't bring positive economic impact; but it isn't the only one.
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Again, assumptions need to be made in order to come to that conclusion.
My point is that those studies are quoted as fact, when they are highly dependent on assumptions.
But I don't expect anyone who quotes them to ever accept that, so I'll leave it at this point.